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There are-literally-10,000 reasons to get the The Amex EveryDay® Credit Card from American Express.(American Express is a CardRatings.com advertiser) New cardholders can earn 10,000 Membership Rewards Points for making $1000 in purchases within the first 3 months of account opening. Amex's Membership Rewards program makes sense for just about any lifestyle and spending need.
Here are the key features of the card:
Flexibility, flexibility, flexibility.
Many reward credit card offers want to limit you to travel and travel-related purchases. The The Amex EveryDay® Credit Card from American Express lets you easily redeem your Membership Rewards® Points across a number of spending categories.
Some of the ways you can redeem points with the Amex EveryDay® Credit Card include:
You can accumulate a lot of extra points on your Amex EveryDay® Credit Card, but you have to use it right. For example, the 20% more points you can get for using the card 20 times means this: Buying 20 things at once, doesn't count. Buying 1 thing 20 times, does.
So, we suggest you use it like this:
That's probably not so different from how you already shop, especially if you are often seeking good deals on your non-grocery purchases. Examine your past purchasing habits to see if this makes sense for you.
Amex EveryDay® Credit Card vs. Capital One® Venture® Rewards Credit Card®
While Amex EveryDay® Credit Card is great for general purchasing, the Capital One® Venture® Rewards Credit Card is fantastic for travel purchasing. The Capital One® Venture® Rewards Credit Card offers a big bonus for big spending early on — 40,000 miles (a roughly $400 value) for spending $3,000 in the first 3 months.
The other big perk with Capital One® Venture® Rewards Credit Card is that every $1 you spend gets you 2 miles. But while there is some flexibility on redeeming these miles for non-travel purchases, the focus on travel means it can't compete with the flexibility of the Amex EveryDay® Credit Card.
It's also worth considering the Capital One® Venture® Rewards Credit Card has a $59 annual fee (waived the first year). Those that want a card similar to the Capital One® Venture® Rewards Credit Card but don't like an annual fee (after the first year) should consider the Capital One® VentureOne® Rewards Credit Card which offers similar benefits, but does not carry an annual fee.
The Citi® Double Cash Card - 18 month BT offer is another no-annual-fee credit card offering cash rewards. This card has an across-the-board 1% cash reward, and you can earn another 1% cash reward when you pay at least the minimum balance.
Pro: The Citi® Double Cash Card - 18 month BT offer has no category restrictions to keep track of and there are no programs to enroll in.
Con: Unlike the Amex EveryDay® Credit Card, you don't receive bonus points for making a certain amount of purchases during an introductory period.
Chase Freedom® makes it pretty easy to get cash back for early purchases. Specifically, you can earn a $150 bonus. It also charges a $0 annual fee, but offers a 0% Intro APR on purchases and balance transfers for 15 months, a bit longer than the intro period for the Amex EveryDay® Credit Card.
The Chase Freedom® requires a little more purchase monitoring than the The Amex EveryDay® Credit Card from American Express. For example with the Freedom® card, you can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs. Unlimited 1% cash back on all other purchases. One month cardholders may redeem 5% for Amazon purchases, and the next quarter it may be gas stations. Keeping up with the rotating categories may mean you'll need to pay closer attention, but 5% cash back is a higher rewards rate than the 2x points earned at supermarkets with the Amex EveryDay®.
We like this card for young professionals and anyone else who wants and needs flexibility—both in their lifestyle and spending:
The bottom line? The The Amex EveryDay® Credit Card from American Express is another solid product by American Express for folks who want a credit card that makes sense for everyday use.